Research on Enterprise Performance and Stock Returns-the Domestic Semiconductor Industry as an Example

碩士 === 中華大學 === 企業管理學系碩士班 === 102 === Enterprise for sustainable development, will work hard to enhance their operational efficiency, industry trends in business management and corporate sustainability performance and financial pointers that may exist between the causal relationship and mutual influ...

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Bibliographic Details
Main Authors: PAI, CHIH- MING, 白志明
Other Authors: Tzu-Kung Hsu
Format: Others
Language:zh-TW
Published: 2014
Online Access:http://ndltd.ncl.edu.tw/handle/06926232007253948050
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Summary:碩士 === 中華大學 === 企業管理學系碩士班 === 102 === Enterprise for sustainable development, will work hard to enhance their operational efficiency, industry trends in business management and corporate sustainability performance and financial pointers that may exist between the causal relationship and mutual influence. Enterprise performance is often associated with a company's share price trend, domestic listed company of the year, are based on monthly, quarterly, semi-annual and annual reports in order to verify that the share price of the investment market, so the revelation of corporate performance for investors is that has a decisive impact on stock trading. Referring to late Ji Junxing (2006) using data reported by complex analysis (DEA, 2006) based on financial indicators and related information for a specific industry to conduct a preliminary screening, from 2012 to 2013, Taiwan's semiconductor industry performance, and further explore the subject stocks associated with a return on shares of the operating performance, as a basis for reference in select stocks. Results found, CCR model and the BCC model to import empirical numerical zhihou can respectively obtained overall efficiency value, and purely technology efficiency value and scale efficiency value, dang efficiency value for at 1 o'clock, is said the decision units among relative has efficiency of from results in the can found, semiconductor equipment factory Han micro section, and Hong Kang, and Philip plastic 3 home, IC manufacturing TSMC, and IC design mediatek, are in by assessment during Shi company overall performance operating are for excellent, so above 5 home company Yu by assessment during overall technology efficiency, and Pure technical efficiency and scale efficiency is 1, refers to the various research units in each investment project to be able to effectively to maximize or minimize the input output, also representing the various research units each year, output-input ratio is appropriate, which is to achieve maximum productivity. UMC in IC manufacturing and IC Ji Xuyao 2 its overall efficiency score for 0.654 and 0.435, compared to other evaluation units was the lowest, on behalf of the 2 companies in the relatively poor operational performance during the period, still active in the future to increase or improve efficiency, let companies operate better in the future. IC design companies and Ali, and Sunrise Telecom, 3 performance showed a decline of nearly two years of operation, the type industry is currently faced with competition from all over the world, so how do you break through the status remains the company to think about the future business strategy.